Allianz Global Investors' new coal policy is stuck in 2015

Allianz Global Investors (Allianz GI) introduced its first coal exclusion policy in July 2021, excluding companies that derive over 30% of revenues from thermal coal or produce over 30% of electricity from coal. Reclaim Finance argues this policy is outdated, mirroring a 2015 standard rather than the more stringent current Allianz Group policy. The analysis highlights that Allianz GI remains invested in 96 coal companies, including 43 coal developers, and lacks commitments to end support for coal expansion or set a full exit date for the coal sector. The document calls for the adoption of absolute exclusion thresholds and alignment with the Allianz Group's goal to exit coal by 2040.

• Allianz Global Investors' new coal exclusion policy, announced July 8, 2021, excludes companies that draw over 30% of their revenues from thermal coal or produce over 30% of their electricity from coal, though exceptions can be made for companies up to 5 percentage points over these thresholds.
• As of January 2021, Allianz GI held US$ 2.1 billion invested in 96 coal companies, which collectively produce 1556 million tons of coal annually and operate 475 GW of coal power capacity. This includes investments of US$ 437 million in 43 coal developers, such as POSCO (US$ 23 million) and Marubeni (US$ 13 million).
• The policy is criticized for failing to address coal expansion and lacking a phase-out timeline, contrasting with the Allianz Group's plan to exclude all coal developers by 2023 and fully exit coal by 2040.
• The 30% relative exclusion threshold is deemed insufficient because it fails to exclude large, diversified coal producers such as BHP (US$ 95 million invested) and Glencore (US$ 32 million invested).

APA

admin (2021). Allianz Global Investors' new coal policy is stuck in 2015. Reclaim Finance. https://reclaimfinance.org/site/en/2021/07/09/allianz-global-investors-new-coal-policy-is-stuck-in-2015/

Chicago

admin. Allianz Global Investors' new coal policy is stuck in 2015. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/07/09/allianz-global-investors-new-coal-policy-is-stuck-in-2015/.

Wikipedia

{{cite press release |last1=admin |title=Allianz Global Investors' new coal policy is stuck in 2015 |publisher=Reclaim Finance |date=9 July 2021 |url=https://reclaimfinance.org/site/en/2021/07/09/allianz-global-investors-new-coal-policy-is-stuck-in-2015/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021allianz, author = {admin}, title = {{Allianz Global Investors' new coal policy is stuck in 2015}}, publisher = {Reclaim Finance}, year = {2021}, month = jul, url = {https://reclaimfinance.org/site/en/2021/07/09/allianz-global-investors-new-coal-policy-is-stuck-in-2015/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }